The corn market posted gains across most contracts on Monday, with contracts up 3 to 5 ¼ cents in the nearbys and fractionally mixed for the 2025 crop. Spillover support from a double digit bounce in the wheat market helped the bulls. The national average Cash Corn price from cmdtyView was up 5 1/2 cents at $4.05 1/2 per bu.
Export Inspections data from the FGIS showed a total of 820,608 MT (32.306 mbu) of corn shipped in the week of 11/14. That was a 2.93% jump from the week prior and 36.52% larger than the same week last year. Of that total, 396,178 MT was headed to Mexico, with 129,132 MT on its way to Japan. Total marketing year shipments are now 9.062 MMT (356.77 mbu), which is 31.88% above the same point last year and a 6-year high for the current week.
Brazil’s first corn crop was pegged at 86% planted as of November 14 in the Center-South region of the country, which is faster than the 80% pace from last year.
Dec 24 Corn closed at $4.29 1/4, up 5 1/4 cents,
Nearby Cash was $4.05 1/2, up 5 1/2 cents,
Mar 25 Corn closed at $4.39 3/4, up 4 1/2 cents,
May 25 Corn closed at $4.46 3/4, up 4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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